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Signal Gold Inc T.SGNL

Alternate Symbol(s):  SGNLF

Signal Gold Inc. is a Canada-based gold development company. The Company is engaged in advancing the wholly owned Goldboro Project in the Canadian mining jurisdiction of Nova Scotia. The Goldboro Project is an advanced exploration and gold development project located approximately 175 kilometers (km) northeast of the city of Halifax, 60 km southeast of the town of Antigonish, and 1.6 km north of the village of Goldboro, on the eastern shore of Isaac’s Harbour, in Guysborough County, Nova Scotia, Canada. The Company has consolidated approximately 28,525 hectares (285 km2) of prospective exploration land in the Goldboro Gold District.


TSX:SGNL - Post by User

Post by 160kon Oct 27, 2024 4:50pm
107 Views
Post# 36284196

Not a merger of equals:

Not a merger of equals:Receiving .1244 of a NEXG share is not fair....it is simply not enough.  Goldboro is a better project than Goliath given accessibility, etc. etc.  I am very reluctant to accept this plan of merger.  As others have mentioned here previously, a royalty give-back would have been the better option, but...what else was offered, if anything?  Can we defeat this plan by having retail shareholders vote against?  The problem is not the "equal value" after consolidation, it is the utter loss of leverage that all retail shareholders will be left with.  This is the skinny of the matter.  By the way, Dustin told me that he couldn't even get the MAE management to just sit down and talk about some kind of plan of arrangement or whatever.  They wouldn't consider anything.  They will likely have to consolidate their share capital by at least 12-1 wiping out most of their shareholders' leverage, at that time.  Consolidations should be outlawed by the OSC...it is an easy way of rewarding poor management and irresponsible corporate finance:  i.e. a company's share equity is not monopoly money to be played around with or used as Canadian Tire money to purchase over-priced assets from other losing enterprises.  Who is voting NO!
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